2017 National Foreclosure Activity Down 20 Percent Annually

As I drive around, it’s becoming increasingly difficult to see the effects of the housing crash in Portland and Vancouver neighborhoods. I receive calls from buyers and investors at least once a week who are looking for a property to flip. The reality is that as of 2014 most of those opportunities have disappeared. Foreclosure sales represent a very small percentage of homes for sale, locally and nationwide most housing markets are experiencing the same. The housing report written by Michael Gerrity of World Property Journal dives into the numbers and reviews the overall national foreclosure data.

Nationally, 4.5 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in May 2017. This represents a 0.8 percentage point decline in the overall delinquency rate compared with May 2016 when it was 5.3 percent. Read more…